NEW YORK, Sept. 7, 2016 /PRNewswire/ -- "3D printing metals market projected to reach USD 776.8 million by 2020"
The global 3D printing metals market is projected to reach USD 776.8 million by 2020, at a CAGR of 31.5% from 2015 to 2020. The increasing application of 3D printing in aerospace & defense industry, majorly in the manufacturing of aircraft engines and components as well as the expiry of various technology patents are the key factors that are expected to drive the growth of the 3D printing metals market.
"Aerospace & defense segment estimated to be the fastest-growing market till 2020"
The aerospace & defense application segment accounted for the largest share of the 3D printing metals market in 2014. It is also estimated to be the fastest-growing market during the forecast period of 2015 to 2020. 3D printing technology has the ability to bring revolution in the manufacturing industry and in medical and dental segment as well. It is also been successively used in bone replacements, patient specific implants, dental crowns, and so on. Factors, such as rapid technological developments, rising demand from end-user industries, along with the expiry of patents will contribute to the growth of global 3D printing metals market.
"North America to be a major market for 3D printing metals, whereas Asia-Pacific the fastest growing market till 2020"
North America was the major market for 3D printing metals in 2015. Product innovations, new research and development projects, and increasing demand from aerospace & defense industry have fueled the demand for metal 3D printing in North America. The 3D printing metals market in Asia-Pacific region is estimated to be the fastest-growing market between 2015 and 2020. Metal powder and printer manufacturers in Europe are expanding their business in Asia-Pacific region and there is a huge knowledge transfer taking place between developed and emerging countries through active engagements in different forums. Rising demand from end-user industries and new investments from engineering and manufacturing companies will drive growth in this region.
BREAKDOWN OF PROFILE OF PRIMARY PARTICIPANTS:
- By Company Type: Tier 1 – 37.5 %, Tier 2 - 50% and Tier 3 – 12.5%- By Designation: C level – 11.1%, Director level – 11.1%, Others – 77.8%- By Region: APAC- 35.7%, Europe – 21.4%, North America – 28.6%, RoW – 14.3%
Further, as a part of qualitative analysis, the research provides a comprehensive review of major market drivers, restraints, opportunities, challenges, and regulations. Leading producers of 3D metal printers and raw material manufacturers including 3D Systems Corporation (U.S.), Renishaw Plc. (U.K.), Arcam AB (Sweden), Carpenter Technology Corporation (U.S.), GKN Plc (U.K.), Sandvik AB (Sweden), and LPW Technology (U.K.), have been profiled in this report.
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- What will be the market size by 2020 and what will be the growth rate
- What are the key market trends
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- What are the challenges that impact market growth
- Who are the key players in this market
- Global report covers key regions such as North America, Europe, and Asia-Pacific with their major countries
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